Mumbai: The redemption of India Millennium Deposits (IMD) has resulted in a depletion of the country's foreign exchange position in the last week of 2005. Forex reserves were down by $6.844 billion after the central bank sold foreign exchange to SBI for redeeming IMDs.

In its Weekly Statistical Supplement, the Reserve Bank of India said that the total reserves for week ended December 30, 2005 touched US$137.206bn against US$144.05bn in the earlier week.

Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US currencies such as euro, sterling, and yen.